Wednesday, 20 January 2010

Piñera pays off his 'debt', his supporters, and then some

El Mostrador is rapidly proving itself to be Chile's best source of investigative journalism, and after March 11, perhaps with The Clinic, will be the country's only independent news source, not openly partial to the Piñera govenment. Imagine if during the Bush years all there was in the US was Fox and the Washington Times.

Today El Mostrador publishes a report on how much Piñera has won since winning the election three days ago -- enough, in theory, to pay off whatever the election cost him. Plus, since it stands to reason that most people who buy stocks are people who have they money to do so, and the people who have the money to do so are in the top 5% (if not 1%) of Chile's population, the rise in the value of Piñera-linked stocks amounts to a massive pay-off of those who overwhelmingly supported Piñera. Thanks for playing.

Only a few days since the election, the issue of money and politics has already come to the fore. And things are only getting started. Piñera has already anounced that he intends to open up Codelco to private investment. Will he resist the temptation to invest a few of his own shekels in this bonanza? He will argue that his holdings are all in blind trust. Blind but not deaf: if someone, just at the right momenty, happens to mention to the blind trust to have a billion or so handy.

I'm just saying.

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